Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from six new drillholes targeting the southern extension of the Napoleon Vein, at its 100%-owned flagship Panuco silver-gold project located in Mexico. The new drill results are centered on the western portion of the district and are a part of Vizsla’s ongoing 90,000 metre resource infill and expansion/discovery-focused drill program.

Highlights

• NP-22-343 returned 1,085 grams per tonne (g/t) silver equivalent over 4.00 metres true width (590 g/t silver, 5.15 g/t gold, 1.00 % lead and 4.39 % zinc), including:
  • 3,185 g/t AgEq over 0.98 mTW (2,025 g/t silver, 15.74 g/t gold, 1.71 % lead and 5.22 % zinc), and
• 863 g/t AgEq over 6.10 mTW (156 g/t silver, 3.63 g/t gold, 7.88 % lead and 6.63 % zinc), including:
  • 1,899 g/t AgEq over 1.11 mTW (255 g/t silver, 11.69 g/t gold, 19.25 % lead and 8.40 % zinc), and
  • 1,251 g/t AgEq over 1.69 mTW (290 g/t silver, 4.72 g/t gold, 9.26 % lead and 10.71 % zinc)
• NP-22-344 returned 527 g/t AgEq over 3.05 mTW (157 g/t silver, 2.55 g/t gold, 0.81 % lead and 5.08 % zinc), including:
  • 705 g/t AgEq over 1.26 mTW (259 g/t silver, 4.88 g/t gold, 0.74 % lead and 3.11 % zinc); and
• NP-23-353 returned 1,401 g/t AgEq over 1.00 mTW (532 g/t silver, 8.96 g/t gold, 1.46 % lead and 7.13 % zinc)

“The Napoleon Vein was the first major discovery made by Vizsla at Panuco in 2020,” commented Michael Konnert, President and CEO. “We have now expanded the mineralized footprint of Napoleon area to over two and a half kilometres along strike and outlined a resource of 41.3 million ounces AgEq Indicated and 28.7 million ounces AgEq Inferred. With a local exploration model that continues to be validated through ongoing drilling, and new high-grade results from the hanging wall vein splays that warrant further step out drilling at depth and along strike, we continue to view the Napoleon Area as a primary target for future resource growth and development. Of the seven drill rigs currently turning on the property, infill drilling continues at Napoleon with one rig.”

Details of the Napoleon Southern Extent

Infill and step-out (expansionary) drilling completed to date has led to an improved understanding of the mineralization controls along the Napoleon vein corridor. Observations based on metal zonation and alteration continue to support the interpretation that the corridor is tilted where the southern extent of drilling is at the top of the mineralized horizon, near surface (Figure 5).

Previously reported high-grade gold assay values near surface support the model (see press releases dated December 16, 2021 and March 29, 2022). Infill drilling assay results disclosed in this news release, show additional high-grade silver and gold values on vein splays at the hanging wall of the main Napoleon structure. The vein splays are situated between 25 to 120 metres into the hanging wall and typically contain high lead and zinc concentrations in addition to the precious metal values. Results from recent drilling suggests that Hanging Wall 1 splay (HW splay 1) forms a cymoid loop with the main Napoleon Vein, as shown in Figure 3, whereas Hanging Wall 2 (HW splay 2) comes off and diverges from main Napoleon at depth (Figure 4).

The results indicate the potential for additional high-grade gold and silver at depth and along strike in some hanging wall splays which remain open. Results from hole NP-22-343 warrant follow up drilling to the north and at depth along Hanging Wall 2 (long section not shown). Vizsla continues working on structural and 3D geologic modelling to design specific drill holes for the exploration of the vein splays (HW splay 2 and HW splay 4).

Table 1: Downhole drill intersections from the holes completed along the Napoleon main and vein splays.

Table 2: Napoleon vein drillhole details. Coordinates in WGS84, Zone 13.

About the Panuco project

The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán. The 7,189.5-hectare, past producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power, and permits.

The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.

The Panuco Project hosts an estimated in-situ indicated mineral resource of 104.8 Moz AgEq and an in-situ inferred resource of 114.1 Moz AgEq. An updated NI 43-101 technical report titled “Technical Report on the Mineral Resource Estimate Update for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico” was filed on SEDAR on March 10, 2023, with an effective date of January 19, 2023 was prepared by Allan Armitage, Ph. D., P. Geo., Ben Eggers, MAIG, P.Geo. and Yann Camus, P.Eng. of SGS Geological Services.

About Vizsla Silver

Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla has completed over 250,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2023, Vizsla has budgeted +90,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.

Quality Assurance / Quality Control

Drill core samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico and in North Vancouver, Canada for sample preparation and for analysis at the ALS laboratory in North Vancouver and rock samples were shipped to SGS Lab in Durango Mexico for sample preparation and analysis.  The ALS Zacatecas, North Vancouver facilities and SGS lab are ISO 9001 and ISO/IEC 17025 certified. Silver and base metals were analyzed using a four-acid digestion with an ICP finish and gold was assayed by 30-gram fire assay with atomic absorption (“AA”) spectroscopy finish. Over limit analyses for silver, lead and zinc were re-assayed using an ore-grade four-acid digestion with AA finish.

Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

Qualified Person

In accordance with NI 43-101, Martin Dupuis, P.Geo., COO, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

Figure 1: Plan map of recent drilling along the La Luisa vein. (CNW Group/Vizsla Silver Corp.)

Figure 2: Longitudinal section of the Napoleon Main Vein with Mineral Resources along main Napoleon and the overlapping hanging wall splays. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)

Figure 3: Longitudinal section of the Hanging Wall 1, vein splay with Mineral Resources along main Napoleon and the overlapping hanging wall splays. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)

Figure 4: Cross section highlighting recent drill intercepts on Napoleon main and vein splays. (CNW Group/Vizsla Silver Corp.)

Figure 5: Napoleon Vein Corridor Exploration Model Longitudinal Section with pierce points on Napoleon main. (CNW Group/Vizsla Silver Corp.)